Why this dip is different from the others

I’ve seen some analysis comparing this recent sell off to the ones previous. The problem I see with this is that it does not take into consideration the cycle. According to Elliot Wave, this matches a perfect 5 wave cycle and this means the entire thing must retrace.

If this is the case, the .618 target is $8000-9000

I have also drawn a channel, with the break …

This article was originally published on: The Tether Blog on January 17, 2018 11:11 am